Financial Freedom Act of 2022

Senate Bill 4147 - Financial Freedom Act of 2022: Overview, Status, and Impact

Hozzl · 2024-03-13T01:56:47Z

Explore the details of Senate Bill 4147 Financial Freedom Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Labor and Employment. Stay informed on legislative developments.

3/13/2024, 1:56 AM

Congressional Summary of S 4147

Financial Freedom Act of 2022

This bill prohibits the Department of Labor from limiting the type or range of investments that fiduciaries may offer participants and beneficiaries in certain employer-sponsored retirement plans. The bill applies to certain defined contribution plans that permit participants or beneficiaries to exercise control over the assets in the account, such as a 401(k) plan that allows participants or beneficiaries to select additional investment options through a self-directed brokerage window.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill S 4147

Bill S 4147 is currently in the status of Bill Introduced since May 5, 2022. Bill S 4147 was introduced during Congress 117 and was introduced to the Senate on May 5, 2022. Bill S 4147's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of May 5, 2022

Bipartisan Support of Bill S 4147

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 4147

Primary Policy Focus

Labor and Employment

Alternate Title(s) of Bill S 4147

Financial Freedom Act of 2022

A bill to prohibit the Secretary of Labor from constraining the range or type of investments that may be offered to participants and beneficiaries of individual retirement accounts who exercise control over the assets in such accounts.